DexCom (NASDAQ:DXCM) Sets New 1-Year High on Strong Earnings

Posted by Defense World Staff on Apr 29th, 2023

DexCom, Inc. (NASDAQ:DXCM – Get Rating) hit a new 52-week high on Thursday following a stronger than expected earnings report. The stock traded as high as $126.44 and last traded at $121.69, with a volume of 325550 shares changing hands. The stock had previously closed at $124.93.

The medical device company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. DexCom had a net margin of 11.73% and a return on equity of 16.66%. The business had revenue of $7.45 billion for the quarter, compared to analyst estimates of $720.52 million. During the same period last year, the business earned $0.08 EPS. The company’s revenue was up 1085.0% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DXCM. Raymond James lifted their price target on shares of DexCom from $138.00 to $140.00 in a research note on Friday. BTIG Research lifted their price target on shares of DexCom from $132.00 to $134.00 in a research note on Friday. UBS Group lifted their price target on shares of DexCom from $142.00 to $150.00 in a research note on Friday. StockNews.com began coverage on shares of DexCom in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Barclays lifted their price target on shares of DexCom from $103.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, February 13th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $126.33.

Insider Activity

In other news, EVP Barry J. Regan sold 2,213 shares of DexCom stock in a transaction dated Monday, January 30th. The shares were sold at an average price of $106.12, for a total value of $234,843.56. Following the sale, the executive vice president now owns 59,386 shares of the company’s stock, valued at $6,302,042.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Barry J. Regan sold 2,213 shares of the business’s stock in a transaction dated Monday, January 30th. The shares were sold at an average price of $106.12, for a total transaction of $234,843.56. Following the sale, the executive vice president now owns 59,386 shares of the company’s stock, valued at $6,302,042.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Matthew Vincent Dolan sold 226 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $114.40, for a total transaction of $25,854.40. Following the sale, the senior vice president now directly owns 26,536 shares in the company, valued at approximately $3,035,718.40. The disclosure for this sale can be found here. Insiders have sold a total of 200,499 shares of company stock valued at $22,655,173 over the last quarter. Corporate insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On DexCom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ronald Blue Trust Inc. raised its position in DexCom by 860.5% during the third quarter. Ronald Blue Trust Inc. now owns 365 shares of the medical device company’s stock worth $27,000 after acquiring an additional 327 shares during the last quarter. James Investment Research Inc. acquired a new position in DexCom during the fourth quarter worth about $27,000. Whittier Trust Co. raised its position in DexCom by 684.4% during the first quarter. Whittier Trust Co. now owns 251 shares of the medical device company’s stock worth $29,000 after acquiring an additional 219 shares during the last quarter. Close Asset Management Ltd raised its position in DexCom by 200.0% during the fourth quarter. Close Asset Management Ltd now owns 264 shares of the medical device company’s stock worth $30,000 after acquiring an additional 176 shares during the last quarter. Finally, Atlas Capital Advisors LLC acquired a new position in DexCom during the second quarter worth about $33,000. Institutional investors and hedge funds own 94.01% of the company’s stock.

DexCom Trading Down 1.8 %

The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.83. The company has a market cap of $47.04 billion, a price-to-earnings ratio of 149.80, a PEG ratio of 3.00 and a beta of 1.16. The business’s 50-day simple moving average is $115.74 and its 200-day simple moving average is $112.65.

About DexCom

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DexCom, Inc is a medical device manufacturing company, which engages in the design, development and commercialization of glucose monitoring systems for ambulatory use by people with diabetes. Its products include Dexcom G6 CGM System, DexCom G6 CGM System for Medicare, Software and Mobile apps. The company was founded by John F.